Both Empirical Evidence and Everyday Observation Suggest That Oligopolies Contribute

question 22

Multiple Choice

Both empirical evidence and everyday observation suggest that oligopolies contribute to economic growth in the very-long-run by

• A)achieving allocative efficiency.
• B)consistently producing at full-capacity output.
• C)achieving technological improvements and innovations through research and development.
• D)decreasing minimum efficient scale.
• E)rarely laying off workers.

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Definitions:

Items Per Transaction

This measures the average number of products purchased in a single sales transaction.

Number of Returns

The count of items returned to a seller or instances of returns filed, such as tax returns, within a specific period.

Store Visit

The act of going to a physical retail location to examine or purchase products or services.

Category Management

An approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category.